Professional Documents
Culture Documents
ANNUAL RATES OF RETURN (%) ON
AFUTURE FUND (Y) AND ON THE
FISHER INDEX (X), 1971–1980.
Year Y X
1971 67.5 19.5
1972 19.2 8.5
1973 -35.2 -29.3
1974 -42 -26.5
1975 63.7 61.9
1976 19.3 45.5
1977 3.6 9.5
1978 20 14
1979 40.3 35.3
1980 37.5 31
Source: Haim Levy and Marshall Sarnat,
Portfolio and Investment Selection: Theory
and Practice, PrenticeHall International,
Englewood Cliffs, N.J., 1984, pp. 730, 738.